10 Best Long Term Tech Stocks to Buy Right Now

7) Salesforce, Inc. (NYSE:CRM)

10-Year Revenue Growth: ~22%

Number of Hedge Fund Holders: 162

Salesforce, Inc. (NYSE:CRM) offers Customer Relationship Management (CRM) technology that brings companies and customers together. Bank of America Securities analyst Bradley Sills reiterated the bullish stance on the company’s stock, providing a “Buy” rating on February 14. The analyst’s rating is backed by a combination of factors, which include the strong performance and growth potential of Salesforce, Inc. (NYSE:CRM)’s core products and new initiatives. As per the analyst, there is strong deal activity and a healthy outlook for the company’s Sales and Service Clouds, and Agentforce pilots continue to gain traction.

Furthermore, new use cases for Agentforce, including call summarization and semantic search, have started emerging, driving Salesforce, Inc. (NYSE:CRM)’s growth potential. Also, the company’s data cloud deals have been demonstrating continued strength, helping the data needs of Agentforce. Overall, the analyst believes that Salesforce, Inc. (NYSE:CRM)’s stock is well-placed to benefit from a more favorable software spending environment and a healthy contribution from Agentforce. The company’s Data Cloud offering, enhanced by AI capabilities, is anticipated to unlock new use cases and value propositions for enterprise customers.

Montaka Global Investments, an investment management company, released its Q4 2024 investor letter. Here is what the fund said:

“There are multiple structural trends in the enterprise software space, including (i) the ongoing cloud migrations and digital transformations of enterprises, and (ii) the infusion of AI into software applications.

While the former remains in its early innings (80-85% of enterprise workloads still reside ‘on-premise’ – many of which will ultimately move to public clouds), the latter remains in its infancy.

Given all the hype of late, it’s hard to fathom that large-scale deployments of AI-based enterprise applications have barely even started. It’s all still to come. And we believe 2025 will be the first year that we really start to see meaningful deployments and adoption of these kinds of applications.

Consider another of our top 10 holdings, Salesforce, for example. Its revenue growth is at a cyclical low. Indeed, at just +8% per annum, as reported in the company’s most recent quarter, its rate of revenue growth has never been lower.

But in 2025, not only will price increases that were announced two years ago boost Salesforce, Inc.’s (NYSE:CRM) revenue growth, but the year will also mark the early stages of adoption of the company’s new ‘Agentforce’ (released only weeks ago). This is a new platform that lets businesses build and deploy their own custom AI agents to automate tasks, improve efficiency, and enhance customer experiences…” (Click here to read the full text)